Add printers and designers to "TV, radio stations and newspapers" and insert Print in front of "digital interactivity."
"The problem: auto, financial, retail and real-estate businesses that generate more than half of local media advertising revenues will not recover anytime soon. Some are never coming back. The number of retail store closures in 2009 could exceed last year's 148,000 closures, due mostly to major chains filing for--or trying to avoid-- bankruptcy. Small local businesses are especially under pressure. As many as 3,800 local auto dealerships risk collapse from dwindling sales and credit. The consolidation of investment banks will continue across regional banks. Real estate values and sales will continue to fall. Federal recapitalization, which could boost the deficit to $4 trillion, will occur at the top of the food chain.
The solution: TV, radio stations and newspapers must work more closely with communities and merchants to strengthen local economies. Their survival depends upon on their effective use of digital interactivity. Job one is to connect local consumers with goods and services of choice using location-based marketing on cell phones and Web sites. With thrift the new norm, marketers ranging from Procter & Gamble to Liz Claiborne have learned to monetize the coupon comeback."
Michael -
ReplyDeleteI agree with your comment that as a local media organization, we need to be directly focused on strengthening our local economy.
I think we can do that better if we create a new network of local information as the base for traditional media. I chart our progress at http://cpetersia.wordpress.com
Thanks for your focus on new revenue for print, while focusing on the need for the interactive digital network.
Chuck
To our valued viewers, :)
ReplyDeleteI took the liberty of following the link above and wanted to share a paragraph about cptersia..it seems he's out there, fighting the good fight!
My name is Chuck Peters. I am the CEO of The Gazette Company in Cedar Rapids, Iowa, a local media company serving Eastern Iowa primarily through The Gazette newspaper and KCRG - TV9, an ABC affiliate, along with numerous niche print and online products. I just returned from the Newspaper Association of America annual meeting in Washington, DC.
So..my question is who else in the newspaper world gets it? I know they are out there, but have been having a very hard time finding them. Most everyone I find is still starry eyed about THE WEB. The best I've found so far is at newsless.org.
Me, I think Print + the Cloud is the next big thing.